One Big Switch is one big fizzer

In the six months since One Big Switch launched its campaign to help borrowers lower their mortgages, only 1,600 homeowners have secured a better deal, from over 40,000 who signed up for the deal.

AFG's general manager of sales and operations Mark Hewitt said the problem is that the campaign had failed to attract major lenders to its panel. “The proposition would be laughable if they weren't putting people's property on the line,” he said.

One Big Switch co-founder Paul Hunyor said “Those numbers are not quite right, we've had over a couple of thousand introductions to lenders and their products through the program.”

One Big Switch will be setting up more mortgage and electricity offers this year.

Source: Broker News